iCharts Discussions

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

Gautham, though slightly unrelated, do you agree with a triangulation trade of buying gold and oil and selling nifty over next 1-2 months?

shashangan · Posted: Fri Oct 11, 2013 12:01 am Post subject:

Vinay, I am overall bearish on Gold. It has to minimum get near or below 1240 $ by November hopefully. It's sell on rallies. My view.

I am not sure of Usd/ Inr. I feel it will go up to min 65, possibly 68 & above, unless you trade the comex directly it's a challenge to carry positions on MCX. I trade commodities evening & once in a while when I am very sure & close all positions mostly EOD, since morning your analysis & position can go for a toss if Rupee doesn't favor.

I am not clear of crude, possibly it may try 114+ is what my opinion. I hate Crude since It gave me nightmares when I used to trade long back & I used to trade U.S directly. Now with Rupee also to add to your dilemma, It's too dangerous for a small investor.

So overall it's a very stressful & tense game. Oil & Gold is 24 hour mkt & any world casualty will affect Gold & crude. I would prefer going to sleep with less stress & less positions haunting my sleep. May be somewhere similar markets you can try a hedge like if you stuck in Long Gold you can Short Silver, but again on your bad day that also will back fire. Or may be Buy Bank Nifty or Sensex & short Nifty. But you can get it right on some sure shot reasons & accurate analysis, not all the time.

Most traders are finding it difficult to predict one market, so there is no guarantee that you can get all right. So better play each one on its merit. Trade each item when it's clear & you are sure of a move. Like I posted today on Gold, since it was slightly clear

Well that's my opinion from my experience. But there should be many people who must be doing it & may be having success too. Just see if all trends look sure & if somebody is not worried of the stress, then why not.

Regards,
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

thanks gautham, good point

shashangan · Posted: Thu Oct 17, 2013 5:42 pm Post subject:

CMP - 1316 - Intra day - Between 1324-26 should be good short spot basis. The mkt has possibility to reverse for intra day again lower. Minimum Target 1306-04 & 1300 region by tomorrow hopefully.

If there is an extension max mkt may try 1338-40 (doubtful though). A strong break of the next resistance 1352-54 region can reverse the trend temporarily.

Overall I am still bearish in Gold. I think a strong break of 1282 & 1251 will trigger lot of stops to immediately target 1242 followed by 1220 region.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 17, 2014 9:33 pm Post subject:

Intra day - Place an order to Short Gold @ $ 1251-53 Stop 1257. Tgt open. Min 1245 around.

High 1250.50 as of now.

Regards,
Gautham Shashangan